As someone who relates just about everything to real estate, reading the headlines about the gridlock that happened on GW Bridge last fall got me thinking about how many people are "gridlocked" out of the current housing market and how they need a bridge!
As the media continues to report about higher housing prices and bidding wars, they sometimes neglect to mention how few houses there are for sale. You can see the latest market updates for Concord, Wayland, Sudbury, Maynard, and Stow at www.marilynmessenger.com.
Why is inventory so low? It easy to blame the weather, but we always have winter in MA, so why else? More money: people think if they wait they'll sell for more money. While that may be true, they will also pay more when they buy their next home, and if interest rates go up they will end up with less money in the end.
Another reason is "gridlock." Most homeowners who would like to move need to sell their current home before they can buy another place to live. Because there are so few houses for sale they are afraid and that if they sell they may not have anywhere to go. So they wait for more houses to come on the market; with so many people waiting, we up end with gridlock.
A bridge loan might be the solution to get people moving because it enables them to buy a new home without having to sell first!
Here is a flyer from one of my loan officer friends with an example of how a bridge loan would work. If you think it might fit your needs, check it out. Call all me anytime at 508-596-3501 to learn more about the home buying and selling process or click here to request a home valuation report.
About the author: Marilyn Messenger has been selling real estate in Wayland, Sudbury, Concord, Maynard, Stow and the towns west of Boston for the past 20 years. As a Certified Residential Specialist and Accredited Buyer Representative/Agent, she has a proven track record of providing efficient and cost effective solutions to help her clients save money, time, and stress during the home buying and selling process. Visit www.marilynmessenger.com or call 508-596-3501 to talk about planning your next move.